Luminar Technologies, Inc. (NASDAQ:LAZR - Get Free Report) gapped down before the market opened on Wednesday . The stock had previously closed at $2.15, but opened at $2.05. Luminar Technologies shares last traded at $2.04, with a volume of 1,378,581 shares.
Wall Street Analyst Weigh In
A number of analysts recently issued reports on LAZR shares. Citigroup decreased their price objective on shares of Luminar Technologies from $11.00 to $9.00 and set a "buy" rating for the company in a report on Thursday, May 9th. Bank of America restated an "underperform" rating and set a $1.20 price target (down previously from $3.50) on shares of Luminar Technologies in a research note on Wednesday, April 10th. The Goldman Sachs Group dropped their price objective on Luminar Technologies from $1.50 to $1.00 and set a "sell" rating on the stock in a research note on Thursday, July 11th. Finally, JPMorgan Chase & Co. reissued an "overweight" rating and set a $8.00 price objective (down from $20.00) on shares of Luminar Technologies in a report on Tuesday, March 26th. Two equities research analysts have rated the stock with a sell rating, two have issued a hold rating and two have given a buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of "Hold" and a consensus target price of $4.37.
Check Out Our Latest Analysis on LAZR
Luminar Technologies Price Performance
The stock has a market cap of $833.31 million, a PE ratio of -1.49 and a beta of 1.62. The firm's 50 day moving average price is $1.59 and its two-hundred day moving average price is $1.98.
Luminar Technologies (NASDAQ:LAZR - Get Free Report) last released its quarterly earnings data on Tuesday, May 7th. The company reported ($0.30) earnings per share for the quarter, meeting analysts' consensus estimates of ($0.30). The business had revenue of $20.97 million during the quarter, compared to analysts' expectations of $22.09 million. Analysts anticipate that Luminar Technologies, Inc. will post -1 earnings per share for the current year.
Institutional Investors Weigh In On Luminar Technologies
Several hedge funds and other institutional investors have recently modified their holdings of LAZR. 180 Wealth Advisors LLC boosted its position in shares of Luminar Technologies by 27.0% in the second quarter. 180 Wealth Advisors LLC now owns 26,294 shares of the company's stock valued at $39,000 after acquiring an additional 5,592 shares during the period. ProShare Advisors LLC boosted its holdings in Luminar Technologies by 16.0% in the 1st quarter. ProShare Advisors LLC now owns 52,321 shares of the company's stock valued at $103,000 after purchasing an additional 7,222 shares during the period. Principal Financial Group Inc. grew its position in shares of Luminar Technologies by 23.7% during the 1st quarter. Principal Financial Group Inc. now owns 39,157 shares of the company's stock valued at $77,000 after purchasing an additional 7,510 shares in the last quarter. Victory Capital Management Inc. grew its position in shares of Luminar Technologies by 27.9% during the 4th quarter. Victory Capital Management Inc. now owns 34,637 shares of the company's stock valued at $117,000 after purchasing an additional 7,564 shares in the last quarter. Finally, American International Group Inc. increased its holdings in shares of Luminar Technologies by 6.0% in the first quarter. American International Group Inc. now owns 143,517 shares of the company's stock worth $283,000 after purchasing an additional 8,089 shares during the period. 30.99% of the stock is currently owned by institutional investors.
Luminar Technologies Company Profile
(
Get Free Report)
Luminar Technologies, Inc, an automotive technology company, provides sensor technologies and software for passenger cars and commercial trucks in North America, the Asia Pacific, Europe, and the Middle East. It operates in two segments, Autonomy Solutions and Advanced Technologies and Services. The Autonomy Solutions segment designs, manufactures, and sells laser imaging, detection, and ranging sensors or lidars, as well as related perception and autonomy software solutions primarily for original equipment manufacturers in the automobile, commercial vehicle, robo-taxi, and adjacent industries.
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